19 Pershing Street, Reservoir VIC 3073

Large block in quiet pocket | 789m² with redevelopment scope | Three-bedroom house needing updates | Strong local sales precedent This property’s primary strength is its substantial 789m² allotment in a well-established, quiet location, a configuration increasingly rare in this suburb. The land size provides immediate utility with a generous backyard and multiple sheds, while also granting a future option for redevelopment, subject to council approval. It serves two distinct buyer profiles: families seeking space and comfort with scope to personalise, and investors or builders recognising the latent value in the land itself. The existing house is functional but presents as a canvas for improvement. Your decision hinges on whether you value current livability or future potential. The risk is capitalising into the price for land size without a corresponding modern dwelling, meaning you pay for future effort. The opportunity is securing a below-typical holding cost in a sought-after pocket, with the commercial logic of subdivision or rebuild in a market that rewards larger blocks. Acquire as a long-term hold with a phased improvement strategy to realise its full value. Recent sales on Pershing Street demonstrate strong demand for land: – 3 Pershing (3 bed, 2 bath, 4 car) sold for $1,212,500 – 16 Pershing (3 bed, 1 bath, 4 car) sold for $1,100,000 – 21 Pershing (3 bed, 1 bath, 3 car) sold for $960,000 These comparable transactions, particularly the sale of number 3, confirm the market’s willingness to pay a premium for properties on this street. They firmly support the listed auction guide for this larger, 789m² property, providing a credible floor for its value.